Wall Street last week
Share prices on Wall Street advanced moderatelv on Thursday and Friday. The Dow Jones industrial average closed at 849.10 for a net gain on the week of 5.80 points. The market had been depressed for most of the week amid a flurry of conflicting reports about oil
supplies. With the Organisation of Petroleum Exporting Countries due to meet this week, two major opec member countries were in the news. Arabian American Oil company refused to comment on a report by the Middle East Economic Sur vey that Saudi Arabia is ‘‘understood to be poised” to boost oil production 12 per cent. Gulf Oil, meanwhile, said that Iran cut crude oil shipments to the company by 15.6 per cent from levels agreed to in April. Closing prices on Friday of a selection of shares were:—
A.8.C., 39g; Alcan, 33J; Alcoa, 522; Aim., 38); Amarada Hess, 47; Am. Express, 36; Am. Motors, 7; Armco, 21); Asarco, 19g; Atl. Rich, 64); Belh. Stl, 22; Boeing, 42g; Borden, 25J; Burroughs, 70; C. 8.5., 483; Citicorp, 24); CocaCola. 39; Cont. Oil, 374; Digital Eq., 563; Disney. 35); Dome Mines, 115); Dow, 274; Du Pont, 1301; East Kodak, 58); Engelhard, 35); Exxon, 514; firestone, 13; Ford, 43J; Free Min., 50; Gen. Lynam., 31); Gen. Electric, 404; Gen. Motors, 60; Gen. Tyres, 24); Goodyear, 16); Greyhound, 14; Grumman, 183; Gulf Oil, 262; Haliburton, 663; Homestake, 341; Honeywell, 70; 1.8. M., 744; Int, Harv., 39J; Into. 20); 1.T.T., 29: Johns Manv., 24g; J. and J., 72); Kaiser, 18); Kennecott, 233; K. Mart, 523; Lockheed, 22); McDonalds, 48; McDon Doug., 24); M.G.M., 21); M.M.M.. 573; Mobil, 77; Monsanto, 50g: N.C.R., 67); Newm. Min., 26); Pfizer, 31}; Phel Dodge, 25); Phil. Pet., 36); Polaroid, 321; Pullman. 32); Raytheon, 483; R.C.A., 254; Revn Metal, 33J; Royal Dutch. 70g; Seagram, 303; Sears Roe., 19); Shell Oil, 40); Shell Trans., 32; Sperry Rand. 45); St Joe, 30); Socal, 48; Texaco, 26}; Texas Gulf, 243; Texas Inst., 924; Union Carbide, 38; Union Oil, 38}; U.S. Steel, 224; Westinghouse, 19); W'wths, 274; Xerox, 62).
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Press, 25 June 1979, Page 12
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343Wall Street last week Press, 25 June 1979, Page 12
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